9911796707
TMI Blog2017 (3) TMI 1718X X X X Extracts X X X X X X X X Extracts X X X X ..... in this Court for winding up the respondent company. In view these facts, this Court hereby appoints the Official Liquidator attached to this Court to be the Provisional Liquidator on the respondent company. Provisional Liquidator to submit report within 60 days from the date of order of this Court. The Provisional Liquidator is hereby directed to take charge of all the property and effects of the respondent company with immediate effect. The respondent company to submit state of affairs before the Provisional Liquidator within a period stipulated by the Provisional Liquidator. - COMPANY PETITION NO. 8 OF 2011 - - - Dated:- 21-3-2017 - PRASANNA B. VARALE, J. ORDER Heard Shri M. M. Agnihotri, learned counsel for the petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel for the petitioner by inviting my attention to the order passed by this Court submitted that the respondent failed to appear before the BIFR in spite of grant of various opportunities. This Court on considering the observations of the BIFR in the order as well considering the fact that the petitions which are pending before this Court since 2011 and 2012 and further considering the ground that the respondent was not represented through counsel, thought it fit to give a last opportunity to the respondent. In spite of the opportunity granted to the respondent, none appeared for the respondent on the next date and this Court passed the order dated 2422017 which reads thus : Heard learned counsel for the petitioners appearing in resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uotation to the respondent company. The quotation of the petitioner-company was accepted by the respondent by placing order for 50 MT of waste paper (sorted white ledger). The petitioner supplied the same and in turn, the respondent company made some payment of waste paper (sorted white ledger). 7. It is the further case of the petitioner that though the petitioner supplied 50 MT waste paper (sorted white ledger) on 3.06.2010, the respondent company failed to pay amount of ₹ 11,74,270/outstanding against it. Shri Agnihotri, learned counsel has further invited my attention to various documents on record specifically Annexure C and email annexed to the petition wherein it is pointed out that the respondent company had admitted tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d counsel appearing for the petitioner, I am of the opinion that the respondent company in spite of issuance of the notice by the petitioner is unable to pay its debts. From the perusal of the material placed on record, it is clear that the respondent company is commercially insolvent and admittedly not in a position to discharge its liability and continuation of the respondent company would be detrimental to the interest of its creditors. The insolvency of the respondent company is reflected from the fact that there are as many as six company petitions filed in this Court for winding up the respondent company. In view these facts, this Court hereby appoints the Official Liquidator attached to this Court to be the Provisional Liquidator on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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